BREAKING NEWS

Hines Lands Berg Restaurant in Downtown Tower

Harold Farb Skyscraper Sold

Hotels Sold for $137 Million

High Mortgages Frustrate Buyers

RNR Real Estate Briefs – HOU, AUS, DAL & more

East River Adding Art to the Mix

REALTY NEWS REPORT - Logo

Banner
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact
FacebookLinkedinYoutubeEmail
REALTY NEWS REPORT - Logo

New Business Park to be Developed Just South of the Historic Astrodome

by Realty News ReportDecember 3, 2019
Share0
Rendering of Corporate Center Fannin, which will be built just south of Loop 610 near the historic Astrodome.

Houston – (Realty News Report) – A new business park just south of the historic Astrodome will be marketed by CBRE, the real estate firm announced Tuesday.

The project, called Corporate Center Fannin, will be an 18.6-acre master planned business park, located at 10001 Fannin Street in Houston. CBRE will market the property on behalf of Summit Real Estate Group. 

Corporate Center Fannin is comprised of Fannin I, a 219,000 SF Class A warehouse and Fannin II, a new 152,000 SF Class A warehouse scheduled to be completed in Summer 2020. Method Architecture designed Corporate Center II and Burton Construction was awarded the construction contract. Corporate Center Fannin II will have all the amenities expected of Class A buildings.  The building will have 32-foot clear height, ESFR sprinkler system, large modern truck courts and high parking counts.

“We chose this infill investment because of its proximity to the Texas Medical Center and the many last mile opportunities,” said Mark Billeaud, partner, Summit Real Estate Group.  “The business park is two miles from the Texas Medical Center and a half mile from the 610 Loop.  Additionally, it’s within a 30-minute drive of nearly 3 million people and the TMC zip code is home to 21,000 physicians, scientist and researchers, the highest concentration in the country.”

Over 100,000 people are employed in the Texas Medical Center, including 10,000 people with PhD or MD (doctor of medicine) degrees.

The need for close-in distribution space, called “last-mile” warehouses has grown as ecommerce has accelerated.

CBRE research has shown that consumer preferences have evolved and the need for faster service has grown, and therefore demand for last-mile real estate has spiked. This includes the demand for well-located light-industrial properties which continues to outpace that for larger warehouses, largely driven by local economic activity and urban population growth. Strong demand for smaller warehouse properties will continue as logistics operators expand their networks to increase their proximity to consumers.

Dec. 3, 2019 Realty News Report Copyright 2019

Read The New Book by Ralph Bivins, Editor of Realty News Report 

 Houston 2020: America’s Boom Town – An Extreme Close Up

Available on Amazon  http://tiny.cc/4a2g6y
Share0
previous post
People in Real Estate: Promotions, Hirings and Appointments
next post
The Houston 2020 Downtown Awards – Winners Announced for Real Estate and Placemaking

Related posts

Hines Lands Berg Restaurant in Downtown Tower

Realty News ReportMarch 30, 2023

Harold Farb Skyscraper Sold

Realty News ReportMarch 29, 2023March 30, 2023

Hotels Sold for $137 Million

Realty News ReportMarch 29, 2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Search News

Partners Ad
CBRE Ad
Arch Con Corporation Ad
Hines Ad
Avera Ad
Ziegler Cooper Ad
Lee & Associates Ad
2021 Realty News Report Ad
Property Logos
RNR - Lincoln Property Company
Hal Gordon - Property Tax Lawyer
Hunington Ad
Evergreen Commercial Realty
STREAM Ad
Hunington Ad

Let's Connect

logo
About US
Author Ralph Bivins is editor of Realty News Report, which covers regional and national news. Bivins recently received the Gold Award for Best Column in the National Association of Real Estate Editors Journalism Competition. Contact us
Follow us
FacebookLinkedinYoutubeEmail
@2022 All Right Reserved. Powered by CGS Digital Marketing
REALTY NEWS REPORT - Logo
FacebookLinkedinYoutubeEmail
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact